MIRA INFORM REPORT

 

 

Report Date :

12.01.2012

 

IDENTIFICATION DETAILS

 

Name :

7761198 CANADA INC

 

 

Registered Office :

3900, Java Place, Local 109, Brossard QC, J4Y 0C4

 

 

Country :

Canada

 

 

Date of Incorporation :

19.05.2011

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Women's Apparel Wholesaler

 

 

No. of Employees :

7

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 20,000

Status :

Small Company

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Canada

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GEOPOLITICS

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD   =   98.3346 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

7761198 Canada Inc

 

Address in the order:

3900 Java Place Suite 109 Brossared QuebecJ4Y OC4 Canada

 

 

Legal Name:

7761198 CANADA INC

 

 

Legal Address

3900, Java Place, Local 109, Brossard QC, J4Y 0C4, Canada.

 

Operative Address

3900, Java Place, Local 109, Brossard QC, J4Y 0C4, Canada.

 

Telephone:

+1-450-444-6289

ID :

1167387282

Fax:

+1-450-444-6289

Legal Form:

Corporation for Profit

Email:

N/A

Registered in:

Canada

Website:

N/A

Date Created:

2011

Manager:

Manish Kaura, Manager.

Date Incorporated:

May 19th, 2011

Staff:

7

Stock:

N/A

 

 

Value:

N/A

Activity:

Women's Apparel Wholesaler



 

 

 

 

 

 

 

 

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

HISTORY

 

The company was created in April, 2011.

PRINCIPAL ACTIVITY

 

The company engages as a Women's Apparel Wholesaler.

Products/Services description:

 

The company offers Women's Apparel products.

Sales are:

 

Wholesale.

Clients:

 

Professionals of the industry.

The subject employs 7 employees.

PAYMENTS

 

Made on a 20 days basis - monitored over the last 12 months.

LOCATION

Headquarters

 

The company is headquartered at:

3900, Java Place, Local 109, Brossard QC, J4Y 0C4, Canada.

 

Shareholders - Manager – Related

Companies

 

Listed at the stock exchange:

 

NO

 

 

Shareholders Parent Company(ies):

 

This is a private company. Ms. BHAKOO, RUCHI is the main shareholder.

 

Management:

 

Mr. Manish Kaura, Manager.


Financials - COMMERCIAL TRENDS AND

FORECAST

 

As a private company the subject does not publish any financial statements.

 

 

We have contacted Mr. Manish Kaura, Manager, who provided us with the following data:

 

 

Currency

DATE

CAD

2011 (forecast)

Turnover

1,800,000

The cash flow is

NORMAL

 

 

Legal Fillings

 

The sources consulted record no detrimental legal or labor court information.

 

Rating

 

Local credit bureau gave a LOW credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This is a small sized Canadian company which was recently created in April, 2011.

 

The company is active and doing business.

 

We have not found detrimental legal or labor information file against the company within the district court.

 

Due to the fact that the company was recently created, we do not believe its structure is solid. We consider that the company is still establishing in the business. This will impact the rating.

 

The financial figures show that the company is having a good performance in its first year. However, we still suggest caution.

 

At this time, we believe that a credit line can be granted for USD 20,000

 

In addition, we suggest requesting a monitoring report within the next 6-9 months to evaluate the company's evolution.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

NORMAL

 

 

 




 


APPENDIX

 

Person Interviewed

 

Mr. Manish Kaura.

Position

 

Manager.

Comments

 

The contacted person provided us with the following information: company's name, location, activity, products, number of employees, management staff, payment trend to suppliers and forecasted revenue for 2011.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.74

UK Pound

1

Rs.80.00

Euro

1

Rs.65.99

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

-

NB

                                       New Business

-

 

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.